Fastly Study Shows Large Amount Of Aussie IT Companies Are Operating Under Threat Of Cyber Attack

Fastly Study Shows Large Amount Of Aussie IT Companies Are Operating Under Threat Of Cyber Attack
B&T Magazine
Edited by B&T Magazine



Fastly, Inc., a global edge cloud platform provider, today released new research in partnership with Ecosystm that shows 75 percent of Australian businesses are now living with a vastly increased attack surface caused by their reliance on web-based applications.

Large attack surfaces are routinely sought out and tested by attackers looking for less-protected entry points into corporate IT environments.

According to the survey, organisations in Australia moved en masse to more decentralised IT architectures over the past two years, but still struggle with some of the cybersecurity implications of these kinds of digital- and cloud-first operating models. Cloud, web applications and the APIs that enable these apps to integrate and exchange data rate highly in the risk and challenge assessments by CIOs, IT directors and technology leaders of Australian organisations. API endpoints, cloud service provider authentication, and enterprise open source software are all seen to pose considerable risks as potential entry points for attackers.

Inadequate controls around these architectural elements, coupled with a lack of operational maturity and reliance on traditional defensive postures, has Australian business leaders on edge and fearful of attacks. The survey shows that 65 percent of large enterprises in Australia rate nation state attacks as a very high or high risk to their organisations. There is also concern among leaders of all business sizes over credential stuffing, which attackers may use to try to compromise cloud accounts and individual as-a-service logins.

The research also shows that:

  • IT leaders expect to increase focus on the security of web applications in the next two years, but more likely in 2023. Digital has dominated IT strategies over the past two years, but operating securely in a majority or fully web- or cloud-based environment means living with elevated risk tolerances and discomfort for security teams.
  • Application security often comes off second in the competition for attention and funding. Over half (53 percent) of IT leaders say they’re prioritising “other digital transformation projects” above application security in 2022, while 39 percent say “other business initiatives” – outside of IT – are taking priority, to the detriment of cybersecurity.
  • More than 40 percent of leaders identify cloud misconfiguration as being still among their top five cybersecurity challenges. Despite the attention and focus this issue has received in the past couple of years, and the rise of low-code/no-code platforms and configurations, cloud environments remain complex, and errors or misunderstandings mean even experienced engineers can encounter cost overruns and/or unintended data exposure risks. This is higher for enterprises (41 percent) than for large (22 percent) and medium-sized (26 percent) organisations.
  • The key challenge for managing application security initiatives is complexity. 55 percent of leaders say too many third parties are involved in end-to-end security of their applications, pointing to the new reality of operating in a cloud-, web- and API-driven world.

That is because a typical response by decision-makers to the increasing complexity of their technology environments is to deploy additional new security solutions. But that approach means nearly half of Australian companies have more than 50 cybersecurity tools, and are battling alert fatigue and high false positive rates as a result.

Organisations need a modern cybersecurity posture that enables them to anticipate threats before they happen, and respond instantly when attacks occur. They need security controls that are capable of automatically sensing, detecting, reacting, and responding to access requests, authentication needs, and outside and inside threats. Administration and application of these controls should also be automated to a high degree to improve coverage and consistency, and reduce the burden on Security Operations Centres (SOCs) and cybersecurity practitioners.

“As Australian companies move deeper into digital transformations, they come up against a known problem: the challenges of securing a rapidly rising number of mission-critical cloud services and API-centric applications,” said Derek Rast, area vice president Australia and New Zealand at Fastly. “The tools these companies use to secure their digital-first, cloud-first and microservices-based architectures need to evolve. Traditional web application and API security tools fall short in this regard. Leveraging Web Application Firewalls (WAFs) and Content Delivery Networks (CDNs) should be part of a holistic defense-in-depth security strategy.”

Illustrating perfectly the cyber maturity challenges faced by Australian companies is the lack of consistency in the operating parameters, powers and preparedness of cyber threat and incident response teams.

The research finds one in three cyber threat response teams lacks the support of key internal stakeholders, is unclear about escalation points for incident management, and doesn’t have the authority to confiscate or disconnect equipment and monitor suspicious activity, including from senior management.

In addition, when it comes to cyber threat response planning:

  • Only 54 percent have a full plan that includes legal and corporate communications teams
  • 50 percent rehearse the plan at least once a year, the other half practice less frequently or don’t practice at all
  • 48 percent have a timeframe for additions and improvements for the plan, and hold senior leaders responsible for making the improvements

Enterprises are more likely than large or medium-sized organisations to have a multi-stakeholder plan that is well-rehearsed. However, they’re also more likely to be subjected to regulated requirements for incident planning and response. This is supported in the study by compliance being identified as a major cybersecurity challenge facing organisations.

Medium and large organisations are more likely than enterprises to be rethinking the way they deploy applications and business logic to end users and to be in active pursuit of that target state. The research shows 64 percent of medium-sized organisations and 56 percent of large organisations are embracing edge computing, moving business logic from application servers to an edge cache. By contrast, just 43 percent of enterprises are doing the same – 10 percent below the overall average.

Moving business logic from the backend to the edge not only increases application performance but can also substantially reduce an organisation’s risk, since user requests are funnelled through a single ‘front door’, instead of to any number of servers that host the application.




Please login with linkedin to comment

fastly

Latest News

Amazon Prime Secures Rights To Next Cricket World Cup
  • Media

Amazon Prime Secures Rights To Next Cricket World Cup

In a massive shift in the broadcasting landscape, Amazon Prime has secured the Australian rights to the next cricket World Cup alongside a range of other tournaments run by the International Cricket Council (ICC) until 2027. The deal means that Australian Cricket fans can only access the tournaments if they have a paid subscription to […]

Limited Tickets Still Available For First Ever Industry Pantomime
  • Advertising

Limited Tickets Still Available For First Ever Industry Pantomime

With just over 24 hours to go until the world premiere of Addy Lala and the Mood Tea Thieves, limited tickets are still available for the pantomime, which will run for one night only at the Everest Theatre in Sydney’s Seymour Centre on December 5th. All in the industry are encouraged to come along to […]

Palin Communications joins GlobalCom PR Network
  • Marketing

Palin Communications joins GlobalCom PR Network

Specialist Australian health PR agency, Palin Communications, has joined GlobalCom PR Network with a view to delivering meaningful, consistent, impactful, global health campaigns across a range of countries and regions.

2045: A New Melbourne-Based Creative Agency Founded by Tim Evans and Nick Auditore
  • Marketing

2045: A New Melbourne-Based Creative Agency Founded by Tim Evans and Nick Auditore

2045, a Melbourne-based creative agency founded by Tim Evans and Nick Auditore has just launched. The agency takes its name from the year futurist Ray Kurzweil predicted organic and artificial intelligence would converge. Lead Image: 2045 Team Evans was formerly a Partner and Executive Strategy Director at DT (now AKQA), before co-founding B.B.E in 2015. […]

New Years Eve fireworks
  • Marketing

National Breast Cancer Foundation Announced as Charity Partner For NYE Sydney

The National Breast Cancer Foundation has been announced as the Charity Partner for Sydney New Year’s Eve. The Australian not-for-profit organisation is represented by the pink ribbon and raises money to fund world-class research towards its vision of zero deaths from breast cancer. Research that saves lives through a better understanding of how to prevent […]

Emporium Unveils Unique Christmas Campaign: “Every Tradition Starts Somewhere”
  • Campaigns

Emporium Unveils Unique Christmas Campaign: “Every Tradition Starts Somewhere”

This holiday season, Emporium Melbourne has announced its festive creative campaign that celebrates and encourages the Melbourne community to embrace their personal ‘untraditional traditions’ – the unique traditions that make Christmas truly special for them, and their family. The campaign’s tagline, “Every tradition starts somewhere”, reflects Emporium’s commitment to embracing, inspiring and applauding diverse traditions […]

Reddit Updates Conversation Placement Ads Formats
  • Technology

Reddit Updates Conversation Placement Ads Formats

Reddit has announced updates to its new ads placement with Carousel Ads and Product Ads. These new units, placed in the heart of Reddit discussions, provide an even more dynamic and compelling way for advertisers to scale to relevant audiences, deliver deeper value to users, and drive stronger, full-funnel performance among the hundreds of thousands […]

Full Throttle Into 2024: Drive.com.au Announces 12 New Products In 2024 Upfronts
  • Media

Full Throttle Into 2024: Drive.com.au Announces 12 New Products In 2024 Upfronts

Automotive Network Drive has announced its 2024 upfronts, its biggest in more than a decade, with a suite of more than 12 new products that underpin its vision to be the number one automotive network in Australia. Now in its 27th year and with a monthly audience of 2.45 million, Drive is leveraging its reputation […]

oOh!media Unveils 51 New Large Format Sites This Year
  • Advertising

oOh!media Unveils 51 New Large Format Sites This Year

oOh!media continues to rapidly expand its large format digital network, launching seven new sites at premium locations across major arterials in Sydney, Melbourne and Brisbane. The latest large format digitals include another premium site in the exclusive Sydney suburb of Mosman. Positioned at the gateway of the lower north shore on Military Road, the high-impact […]

Seven Uses Gen AI to Push Tech Boundaries With Ignite
  • Media

Seven Uses Gen AI to Push Tech Boundaries With Ignite

The Seven Network revealed the results of the second round of its flagship innovation initiative – Ignite – which saw seven employee-led generative AI concepts selected for prototype development. An inspiring three-week event, Ignite brings together internal cross-functional teams of engineers, data scientists, product managers and staff from across the business to collaborate and develop […]

Australian Agency Engaging.io Slam Dunks With Texas NBA Team
  • Marketing

Australian Agency Engaging.io Slam Dunks With Texas NBA Team

Australian tech consultancy Engaging.io has scored a major business win with the appointment by a leading Texas-based US National Basketball Association (NBA) team to revolutionise its marketing and communication strategies. The powerhouse NBA franchise turned to Sydney-headquartered Engaging to spearhead a major HubSpot implementation, driving greater efficiencies, personalisation and a more seamless experience for fans. […]

Dentsu QLD Partners With DeadlyScience & UnLtd To Drive STEM Programs With First Nations Youth
  • Media

Dentsu QLD Partners With DeadlyScience & UnLtd To Drive STEM Programs With First Nations Youth

Dentsu Queensland has formed a strategic partnership with DeadlyScience, an organisation that provides science, technology, engineering and maths (STEM) resources to Aboriginal & Torres Strait Islander students across Australia. The partnership is in collaboration with UnLtd, which helps connect the media and marketing industries with charities helping children and young people at risk. This is […]

Revolution360 Parent Venetian Media Group Acquires Digital Native
  • Technology

Revolution360 Parent Venetian Media Group Acquires Digital Native

Victoria-based Venetian Media Group (VMG) has acquired web and digital strategy shop Digital Native. Lead image L-R: VMG CEO, Michael Fishwick; Digital Native big chief, Matt Gardan.  Digital Native specialises in digital strategy, branding, UX and web design it has deep experience in renewables, emerging technology and not-for-profit. Its web design process and collaborative approach […]

Murmur Group Launches High-Octane Campaign For Rare Spares Rockynats
  • Campaigns

Murmur Group Launches High-Octane Campaign For Rare Spares Rockynats

One of Australia’s biggest off-street car and motorbike festivals, Rare Spares Rockynats, is returning to Rockhampton for Easter 2024 and has kicked off its promotional calendar with a high-octane media campaign. The two-phase campaign, via award-winning marketing agency Murmur-Group, will launch across large format out-of-home and retail placements and will be supported by local radio, […]